A leading retail apparel chain required the performance review of their telecommunication expense management firm, which was outsourced the work of managing the retail chain’s telecom expenses. The scope of work included working with the client as well as the expense management firm to validate accrual reports, establishing a process to accumulate actual payments, track turnaround statistics on bill receipt-to-pay, validate proper accounting and coordinate evaluation of various reports generated.

Relevante professionals obtained the list of sites which the service provider managed. The diligent team identified a number of accounts with incorrect coding and which negatively impacted the client. Relevante’s professionals also worked with the client’s telecom group to validate the inaccuracies and made the necessary corrections. Further, Relevante’s professionals also developed an internal site database to house all outsourced phone data.

The coding corrections ensured an accurate GL and accrual reporting structure for the client. An ongoing Bills Late Arrival (BLA) report was also developed to avoid statement inaccuracies. It was brought out that the outsourcing firm lacked adequate controls for accurate payment timings, and a project is underway to develop systems for avoiding payment efficiencies. Relevante’s professionals ensured that the client reduced its outstanding payments to the service provider due to inaccurate procedures followed by the service provider.

Our professionals also highlighted various areas of control weaknesses to the client and also developed & implemented remedial control measures which have ensured greater financial reporting strength for our client.